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Creation of Federal Reserve
The Congress wanted to provide a safer, more flexible, and more stable monetary and financial system. -
Fed's role during WWI
Once the nation entered the war, the Fed dedicated itself mainly to supporting the war effort. -
Federal reserve banks open
The Federal reserve banks open for business in 1914. -
The McFadden Act
President Calvin Coolidge signed the McFadden Act on February 25, 1927 after the Federal Reserve's success. -
Great depression
The Great Depression is the biggest Federal Reserve's mistake and contributed to the worst economic disaster in American history -
Stock market crash
The Dow declined nearly 13 percent on Black Monday, October 28, 1929. -
Banking Panics
in the fall of 1930, the economy poised for recovery. -
Banking acts of 1932
the Banking Acts responded to concerns about the structure and mission of Reserve that arose during the economic contraction of the early 1930's. -
Bank Holiday of 1933
President Roosevelt issued Proclamation 2039 ordering the suspension of all banking transactions. -
Emergency Banking Act
Emergency Banking Act was intended to restore confidence in banks when they reopened after the Bank Holiday in 1933. -
Roosevelt's Gold Program
The Roosevelt administration's policies regarding gold and dollars were arguable and consequential. -
Gold reserve Act
The Gold Reserve Act program first restricted the private use of gold, requiring businesses. -
Banking Act of 1935
The Banking Act of 1935, which President Roosevelt signed on August 23, completed the restructuring of the Federal Reserve.
